(New York) British singer Sting has sold his entire songwriting catalog, including his repertoire with The Police, to an arm of Universal Music, the latter announced Thursday.
Posted at 10:50 a.m.
The sale represents the latest of artists selling their rights to music industry giants.
Universal Music Publishing Group (UMPG) did not reveal the financial terms of the agreement in its press release, but the sale would be around 250 million dollars, according to estimates by American media.
It brings together the 70-year-old artist’s lyricist catalog with that of his recorded music, already controlled by Universal, according to the press release.
Universal will now receive all revenue and royalties related to the author’s works of hits like Every Breath You Take and Roxane with The Police, or even Fields of Gold alone.
In a press release, the singer said he was “delighted” that UMPG now manages its catalog.
“It is absolutely essential for me that all of my work takes up residence where it is esteemed and respected,” said the singer, quoted in the UMPG press release.
Owning the rights to catalogs — which allow you to earn royalties for every use of a song, whether it’s a download, a passage in a movie or an advertisement — can be very profitable on the long term.
The former bassist and frontman of The Police adds his name to a growing list of rockstars who have sold all or part of their musical catalog via transactions with astronomical amounts, but never officially confirmed.
In 2021 the “Boss”, Bruce Springsteen, sold all of his music rights to Sony Music for a record amount estimated at nearly half a billion dollars, while Nobel Prize winner Bob Dylan did the same. with Universal Music for a windfall of some $300 million.